# Newell Brands Inc. (NWL)

> Source: Nexqual · https://nexqual.com/NWL · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Newell Brands Inc. (NWL), nexqual.com/NWL" · informational, not investment advice.

**Price:** USD 5.73 (+3.06% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 5.56 · day 5.54–5.83 · 52w 3.07–7.13 · market cap $2.44B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $7.25B, net income -$221M (-3.0% margin), free cash flow $118M (SEC filings).
- 1 of 80 tracked superinvestors hold NWL (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Hold (mean 2.56 on a 1–5 scale) (9 analysts), mean target USD 6.66 (range 5–11).
- Total return with dividends: 1Y +22.9% vs S&P 500 +14.9%; 5Y -67.9% vs S&P 500 +80.3%.
- Next earnings: 2026-10-30, EPS estimate USD 0.2, revenue estimate $1.86B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $10.6B | $9.46B | $8.13B | $7.58B | $7.20B | $7.25B |
| Gross profit | $3.36B | $2.83B | $2.35B | $2.55B | $2.43B | — |
| Operating income | $1.01B | $312M | -$85.0M | $67.0M | $39.0M | $164M |
| Net income | $622M | $197M | -$388M | -$216M | -$285M | -$221M |
| EPS (diluted) | $1.45 | $0.47 | -$0.94 | -$0.52 | -$0.68 | — |
| Free cash flow | $595M | -$584M | $646M | $237M | $17.0M | $118M |
| Gross margin | 31.8% | 30.0% | 28.9% | 33.6% | 33.8% | — |
| Operating margin | 9.6% | 3.3% | -1.0% | 0.9% | 0.5% | 2.3% |
| Net margin | 5.9% | 2.1% | -4.8% | -2.8% | -4.0% | -3.0% |
| Revenue growth | +12.8% | -10.7% | -14.0% | -6.8% | -5.0% | — |
| Cash + short-term investments | $440M | $287M | $332M | $198M | $203M | — |
| Total debt | $4.89B | $5.38B | $4.90B | $4.59B | $4.67B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.3x · EV/EBITDA 15.1x · EV/Sales 1.0x · P/FCF 20.7x · P/B 1.0x · FCF yield 4.84% · Earnings yield -9.06% · Dividend yield (paid, TTM) 5.16% · Net debt $4.80B · EV $7.24B

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold NWL. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Richard Pzena | Pzena Investment Management | 0.86% | $295M | Added +0.4% |

## Analysts
Consensus Hold (mean 2.56 on a 1–5 scale), 9 analysts; mean target USD 6.66 (low 5, high 11).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-04 | Citigroup | Target raised | Neutral | $5.5 → $6 |
| 2026-08-03 | Canaccord Genuity | Target raised | Buy | $9 → $11 |
| 2026-08-03 | UBS | Target raised | Neutral | $4.75 → $5.5 |
| 2026-08-03 | RBC Capital | Target raised | Sector Perform | $4 → $5 |
| 2026-07-21 | Barclays | Target raised | Overweight | $5 → $7 |
| 2026-07-16 | JP Morgan | Target raised | Overweight | $5 → $7 |
| 2026-07-16 | UBS | Target raised | Neutral | $4.25 → $4.75 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +22.9% | -67.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +23.0% | -20.3% |
| Volatility (annualized) | 61.3% | 56.1% |
| Max drawdown | -38.9% (Oct 2025→Nov 2025) | -85.6% (Feb 2022→Nov 2025) |

## Peers (Household & Personal Products)
COTY (Coty Inc.) USD 3.21 +5.25% · SPB (Spectrum Brands Holdings, Inc.) USD 81.03 +2.62% · IPAR (Interparfums, Inc.) USD 116.07 +2.54% · EPC (Edgewell Personal Care Company) USD 28.89 +7.08% · ODD (ODDITY Tech Ltd.) USD 23.35 +4.33% · ELF (e.l.f. Beauty, Inc.) USD 114.99 +1.06%

## More
Full page: https://nexqual.com/NWL · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in NWL's own 10-K filed 2026-02-13 (https://www.sec.gov/Archives/edgar/data/814453/000081445326000008/nwl-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Amazon (AMZN) | "The Company's largest customer in 2025, Amazon, accounted for approximately 17%, 15% and 13% of net sales in 2025, 2024 and 2023, respectively." |
| Customer | Walmart (WMT) | "Walmart Inc. and subsidiaries ("Walmart"), the Company's second largest customer in 2025, accounted for approximately 13%, 14% and 15% of net sales in 2025, 2024 and 2023, respectively." |
| Customer | Target (TGT) | "The Company's top-ten customers in 2025 included (in alphabetical order): Amazon.com Inc., Costco Wholesale Corporation, Grainger Inc., Office Depot Inc., Staples Inc., Target Corporation, The Home Depot Inc., The Kroger…" |
| Customer | Home Depot (HD) | "The Company's top-ten customers in 2025 included (in alphabetical order): Amazon.com Inc., Costco Wholesale Corporation, Grainger Inc., Office Depot Inc., Staples Inc., Target Corporation, The Home Depot Inc., The Kroger…" |
| Customer | Kroger (KR) | "The Company's top-ten customers in 2025 included (in alphabetical order): Amazon.com Inc., Costco Wholesale Corporation, Grainger Inc., Office Depot Inc., Staples Inc., Target Corporation, The Home Depot Inc., The Kroger…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Home and Commercial Solutions | $903.0M | 45.3% | +1.2% | $49.0M | 5.4% |
| Learning and Development | $851.0M | 42.7% | +5.2% | $308.0M | 36.2% |
| Outdoor and Recreation | $240.0M | 12.0% | +2.6% | $4.0M | 1.7% |
| Corporate costs (not allocated) | — | — | — | $78.0M | — |
| Total revenue | $1.99B | 100% | — | $283.0M | 14.2% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Writing | $587.0M | 29.4% | +2.8% |
| Kitchen | $457.0M | 22.9% | +4.1% |
| Commercial | $327.0M | 16.4% | -1.5% |
| Baby | $264.0M | 13.2% | +10.9% |
| Home Fragrance | $119.0M | 6.0% | -1.7% |
| Total revenue | $1.99B | 100% | — |
The lines above cover 88% of total revenue.

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| North America | $1.34B | 67.2% | +4.4% |
| International | $654.0M | 32.8% | +0.3% |
| Total revenue | $1.99B | 100% | — |

## Customer concentration

Period ended 2025-12-31: 17%, 13% of revenue from unnamed direct customers (10-K, filed 2026-02-13).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.20 | $0.20 | -2.2% | $1.86B | 9 |
| Next quarter (ends 2026-12-31) | $0.19 | $0.23 | -15.9% | $1.93B | 9 |
| Current fiscal year (ends 2026-12-31) | $0.76 | $0.58 | +31.7% | $7.33B | 9 |
| Next fiscal year (ends 2027-12-31) | $0.69 | $0.67 | +2.8% | $7.44B | 9 |